معرفی
Michael Reher serves as an Associate Professor of Finance at the Rady School of Management, University of California, San Diego, where his research examines the intersection of intermediary finance and household finance with focus on real estate financing impacts. Prior to Rady, he held positions at the Federal Reserve Banks of Boston and San Francisco and Wealthfront, an automated financial advisor. His work bridges academic rigor with practical financial policy implications through publications in top-tier journals including the Journal of Finance and Journal of Financial Economics.
His educational background includes:
- PhD in Economics, Harvard University (2019), John R. Meyer Fellow
- B.S., Georgetown University (2014), Valedictorian
Reher's research centers on Corporate Finance, Real Estate, and Household Finance, investigating how mortgage credit supply mechanisms affect housing costs, rental markets, and economic outcomes. His empirical work analyzes mortgage-cash premiums, securitization effects on lending standards, and fintech's role in wealth management accessibility. Key methodologies include natural experiments and quasi-experimental designs examining regulatory impacts on housing quality and credit markets.
His publication trajectory (2016-2024) demonstrates consistent focus on real estate finance within premier journals, with increasing attention to fintech innovations and mortgage market dynamics. Recent work quantifies welfare gains from robo-advisors and documents the 11% mortgage-cash premium puzzle, revealing systemic inefficiencies in housing finance.
Professional recognition includes:
- Excellence in Teaching Award, Master of Quantitative Finance program (2024)
- John R. Meyer Fellowship during doctoral studies at Harvard
Reher teaches in undergraduate business economics and the Master of Quantitative Finance programs, leveraging industry experience from central banking and fintech. His research collaborations with Pedro Gete, Rossen Valkanov, and Stanislav Sokolinski produce policy-relevant insights for regulators and financial institutions. Current working papers extend into agricultural real estate dynamics and crisis-driven operational adjustments in commercial real estate.
His work is conducted within Rady's finance research ecosystem, with future directions exploring groundwater impacts on cropland investments and comparative analysis of agricultural versus residential real estate returns during resource constraints.
